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Mar 1, 2017

1% Interest for Small Savers on First $50K

1% Interest for Small Savers on First $50K

We talked about the 1% interest savings account for millionaires in an earlier post last time. This 1% interest for savers account is suitable for people with more modest incomes who don't have one million dollars hidden under our pillows. Having said that, millionaires are not exempted from qualifying for this 1% interest for savers account.

Singapore Savings Account Rates helps you to boost interest income from savings accounts, savings bonds and other financial retail investments in Singapore.

Rates quoted in 2017 on Singapore savings accounts rates are meant for personal use only. You are advised to check interest rates with the respective banks and/or fixed income investment companies before investing.

You get 1% interest for CIMB FastSaver account holders.

Daily interest will be paid on the entire daily balance, provided that the balance is at least S$1,000 in your CIMB FastSaver account on any given day and capped at S$50,000. For remaining balances above S$50,000, an interest rate of 0.6% p.a. will apply.

There's no need to step into a CIMB branch to open such an account. In fact, you must open it via online means. You get a dongle to FAST transfer funds to and from your other savings accounts.

Indeed, conducting a transaction over a counter at a CIMB branch for this savings account will cost you $5.

All 2017 interest rates are subject to change without prior notice at discretion of the bank or fixed income investment company. Promotional interest rates expire at dates fixed by respective banks. Please check with respective banks for details.

For you own protection, perform due diligence to assess the suitability of these financial products for your personal financial circumstance.